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the income tax is 100 years old or it look at how much it has grown out. welcome, everyone, i and liz macdonald in for neil cavuto. as you're watching the super bowl, we are continuing to watch our tax rates skyrocket. income tax celebrating its 100 are they this saturday. it was 7% of first started. now, locale hiatus. it's about if we should raise the rates even more. dan mitchell on what rates america will be seen next 100 years. you know, here is the thing. basically we are seeing the income tax celebrating its 100 anniversary. back then, it was unconstitutional to have an income tax. what do you make of the direction the country is in with where they are right now? >> well, this is just an argument for euthanasia. i think 100 years is plenty long enough to have the income tax. what is really tragic is that we would not have the modern welfare state with all the economic damage it imposes if we had not given politician the ability to live levy a broad-based tax like the income tax. but as you point out, it is just going to get worse in the future because we have these out-
linda has a comment on the end of the payroll. this is not an increase in taxes. people and employers have had a 2% break-in social security taxes for the last two years. this at a time when social security fund could not afford it. a financial gift to the already employed at the expense of social security. technically right, but in your bed you hated it. i love hearing from you. send me an e-mail. gerri@foxbusiness.com. and you know what, two years in the making almost. the man behind the disasters solyndra alone is stepping down. energy secretary steven chu offering his resignation today. he was highly criticized for its handling of the $528 million loan to the solar panel maker, which later went bankrupt. despite the blunder he is leaving with obama's support and his pride intact. he said, came with streams and leaving with a set of accomplishments that we should all be proud of. not all of his dreams came true. back in 2008 he famously said we as a nation needed to boost gas prices to levels -- levels seen in europe. although he eventually walked back those comments,
even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75 year time frame we talk about budgets. the american people need to know that. it is important the president gets mad because then we could talk about the positive solutions a
perceptions of the sales tax or consumption taxes it will be easy to a minister. there is a role for the tax collector, and if you look at any state law you will see the car phone of exemptions, and they are as complex as some of those tax preferences we have in our code. discipline will be required on a consumption tax just as it would for an income-tax. ♪ a little bit. and that is the nature of accounting systems and how they influenced the development of tax policy. if i go all the way back to the history of conversion from a tariff to an income tax, what really makes this possible is the growth of the modern corporation or the modern business because they develop the accounting system, keep track of who has wages and for them to operate efficiently and need to keep track of it. that is the financial accounting that acquires them to keep track of income, and the government that is able to latch on to these accounting systems and really rely upon them to enforce code. in truth it is the large business, large charity, larger organization that is the main instrument for impleme
♪ >> do not be fooled by the headlines. the economy is in bad shape. tax and spend is a failure. good morning, everyone. the bean counters presented the report on the economy. and what did the media pick on? the deficit. this year it will be below a trillion dollars, that's what the pundits focused on and ignored the grim reality. in fact, our debt is headed toward the worst levels in post war america. worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax and spend, it lives on and so does our massive debt. reality check, "varney & company" is about to begin. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. >> first up this wednesday morning, gas prices, yes, they are still on the rise. national a
that cuts defense spending once again. it has $500 billion in new taxes and also cuts in domestic spending. it is irresponsible, unacceptable. it leaves their troops and our economy and ready to face the challenges of the future. or the threats of today. when i went to the steering committee to apply for this job, i explained to them the way i saw the jobless to make sure that our troops, those who we sent into harm's way would have everything they needed to carry out their missions and return home safely. everything in the way resources, training, leadership, these things are very important. and i look at what is happening with these cuts that we have seen the last couple of years and it is just irresponsible that the commander in chief, his main job should be the same that i look at as my job, only he should be looking out for the soldiers, sailors, airmen and marines that he sent into harm's way. he should not send them with anything less than the told that -- the total they need. and to be stepping up and continuing to cut -- i visited with their top leaders, and they have told me that
body was buried there. >>steve: straight head, he vowed not to raise taxes and his state is thriving. now louisiana governor jindal says he wants to share his tips with our present. brian's exclusive interview with that man interview with that man next. [ woman ] ring. ring. progresso. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. fox our financial advice is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] [ male announcer ] life brings obstacles. usaa brings retirement advice. call or visit us online. we're ready to help. learn more with our free usaa retirement guide. call 877-242-usaa. it's not what you think. it's a phoenix with 4 wheels. it's a hawk with night vision goggles. it's marching to the beat of a different drum. and where beauty meets bra
located in canada and skype in their input. i pay the taxes in canada and not in the u.s. >> in silicon valley, that is commonly happening. everywhere else but silicon valley. we want people here so they will pay taxes here and interact and start more companies after they finish projects. >> thank you. >> the gentleman from new york is recognized for five minutes. >> thank you. you have indicated throughout your testimony the need for policy or practical reasons to emphasize as we tackle this immigration issue of highly skilled visas. you have founded a company of 1000 plus employees. you have written a book. you work at one our most distant wish universities. you have -- one of our most distant wish to universities have contributed much to america. we have a history of dealing with refugees with a passion that makes sense for who we are and what we represent in our democratic values. with the history of making sure that we grant visas in recognition of the fact that we need to draw from people all across the world. that is the premise of the diversity. tha that makes a stronger. the ne
." -- please tax me more." we have gotten so desperate in this area that we are talking about, perhaps because we cannot make a policy decision on this and have not since the early 1990's on the federal level, maybe we need to go to indexing of the fuel tax. >> you are talking like infrastructure, not to pay for subsidies, right? >> what we need is more infrastructure, and that is a public good, and it needs to be paid for, and generally with tax revenues. i do not think anybody is faulting that. i think it is sold that we need higher fuel tax, and we can use that either to reduce the deficit or to pay for something else. it was designed -- or intended -- whether it has done so successfully or not, it was done to pay for infrastructure. >> absolutely. we are not real happy about that. >> john, what are you hoping for next week? >> for some reason, i have not been consulted on that. the president in the campaign said he was 4 and all of the above energy policy, so let's have some announcements that support that -- he was for an " all of the above" energy policy. let's move forward with the thin
. they are simply willing to spend money. they gave tax cuts and never paid for them. in the end they have eroded the revenue of the government. some of it is coming back. the wars are winding down. the economy is picking up. but there is a real health care problem that we have to deal with at some point. it will take some revenue. you cannot just do it by magically saying that it will fallout of the sky. you cannot cut enough to get the debt down without talking about revenue. i think it they did a little bit here at the end of january 3. everyone gave the office and will not give again. host: this editorial from "usa today," de say that it is not a spending problem -- but "usa spend money. today," others, saying that it is. guest: let me explain. the average cost spent on a senior citizen in medicare is flat. it went up 0.4% last year. it is flat spending. the fact is that beginning in 2011, all the children born after the second world war, the so-called baby boomers, are coming on. when i came to congress in 1989 there were 35 million seniors on medicare. 30 million people altogether. we have
policy as soon as we get our fiscal policy in order. taxes are nearly at their highs. we will have a trillion dollar deficit. dagen: don't you think that the democrats will continue to fall back on raising taxes even more than they already have? it is nothing compared to the $7 trillion in additional debt. >> this is not a solution to our problems. i think they have used this to great political advantage. that is indisputable. that is not a solution as to where the budget has to go. what will the senate democrats put in their budget? what will it look like? they will not be able to raise taxes and solve the problem. the taxes will not work. they do not want to reform entitlements. dagen: there is a growing chorus among many people in this country that our debt is not that much of a problem because we have had these low, low, almost record low interest rates at this point. ultimately, if the fed decides we are worried about inflation and begins to withdraw some of this money out of the system, will that be the day of reckoning? >> that will be a very bad day if it happens. you are h
is expected to ask congress to agree to a package of short term spending cuts and tax reforms off the pending sequester cuts. he will come to the cameras at 1:15 eastern. you will see that online at c-span.org. more talk about the budget a little bit later today as the head of the congressional budget office, douglas elmendorf will talk about the release of the annual budget and economic outlook. that will be live from cbo headquarters at 2:00 p.m. eastern. we'll have it here on c-span2. also congressman patrick meehan and other house democrats will brief reporters on legislation to combat gun trafficking. that will be live at 2:00 p.m. eastern on our companion network, c-span3. >> the single thing that coolidge did that we want to remember, when he left office, the budget was lower than when he came in. that's the story for us now in a period where we're concerned, well, how did he do that? the economy grew a lot. maybe more than 3% sometimes. unemployment was below 5% the budget was balanced due to his own parsimony. how did i manage to make the budget go lower? how did that help the econom
. bill will go up for vote on tuesday. >>> dc residents may be surprised on tax day. why parking and speeding tickets may come back to haunt you. >> and gary's watching a cold winter weekend weather forecast. >> not as cold as today, but still real cold for the first one of february. some snow, too. all the details in the forecast, coming up. >> and check out the rundown. we're back. i got it when we could two min. [ male announcer ] once you've got verizon fios internet, you get it -- the difference 100% fiber optics makes. but don't take our word for it -- ask a real fios customer. ask me why fiber optics matters. ask me about the upload speeds -- they're sick! [ male announcer ] so go online and send a tweet to a real fios customer. last chance to get fios for just $89.99 a month for 2 years with a 2-year agreement. plus get $300 back. visit got2getfios.com for america's fastest, most reliable internet. call the verizon center for customers with disabilities at 800-974-6006 tty/v. we know some people are never happy with the way things are. at honda, and are always dreaming o
't be the worst thing in the world because it may be the best we can get without tax increases. they're done talking about taxes. >> they say they're done. the president will say again he wants a package of spending cuts now and a bigger negotiation he wants more revenue or tax increases. this is the president's way. he's beginning his second term. last thing he wants is disruption in the economy in the psychology, financial markets to set his second term off when he thinks things are growing. how much is baked into the marks, if you will? do they expect the sequester, as more people in washington say it's -- let's listen to the president. >> good afternoon, everybody. i want to say a few words about the looming debt lines and decisions that we face on our budget and on our deficit. these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. and we have seen signs of this progress over the last several weeks. home prices continue to cli
not have to pay the amt. it also changed the estate tax bumping down the rate of little bit lower than what it had been over the exception of little bit higher. the numbers we just show you, the real numbers will be much worse. we will find out at 1:00 o'clock. back to you. dagen: are we going to be in a statement from the white house at 1:15 p.m.? rich: he will talk about the sequester. he will push for congress to pass a smaller package of spending cuts and tax reform to avoid the economically harmful consequences. he wants tax increases and spending cuts. the tax issue is closed, says the republicans. dagen: thank you for that update. for more on the outlook and what the president will say this afternoon, we go to michael perrone. michael, good to see you. start with this cbo report. will it influence policy and what happens in washington and even the smallest way? >> the cbo is required to give a fictitious look forward at the budget numbers. it will be higher than projected unless other action is taken. the medicare doc fix, for example, will not go away. they have been voting in every
scheduled to begin march 1. it is including tax changes. the president spoke to reporters for just over five minutes. >> good afternoon, everybody. i wanted to say a few words about the looming deadlines and decisions that we face on our budget and on our deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. and we've seen signs of this progress over the last several weeks. home prices continue to climb. car sales are at a five-year high. manufacturing has been strong. and we've created more than six million jobs in the last 35 months. but we've also seen the effects that political dysfunction can have on our economic progress. the drawn-out process for resolving the fiscal cliff hurt consumer confidence. the threat of massive automatic cuts have already started to affect business decisions. so we've been reminded that while it's critical for us to cut wasteful spending, we can't just cut our way to prosperity. deep,
their families, they are contributing. there's always the question about paying taxes. they pay taxes. you can check with the social security department. there is a large amount that those unaccounted for. they do not know who toot attribute that money to pray we need to do reform so when they pay tax it goes into the right account and it helps fund and fuel our economy. and what the mayor and the state and federal government to garner this tax dollars and not for it to be in the pocket of sun -- some unscrupulous employer who is taxing the but not sending the money on. we all know that there was an increase in the earning ability of the undocumented once the became. everyone keeps talking about innovation. let me give you a little innovation. we talked about the uncertainty of the market and what we do as a congress. the uncertainty of what we do and what that causes. i want everyone to think one moment. what you think about the uncertainty in the life of a male -- 11 million undocumented workers when you give them certainty? i will tell you what i believe they're going to do. they're going t
at the washington institute. after that we have chris edwards. he is a top expert on federal and state tax and budget issues. he's testified to congress many times and his articles have appeared in "the washington post" and other newspapers. last but not least we have alex nowrasteh. he has advocated for prosperity. he was a policy analysts. his work has aweired in "the wall street journal" and he has appeared on fox news and bloomberg. i will turn the podium over to david. >> thank you and thank you to all of you for being here. it is good to have you here. my colleagues are going to talk about specific policy issues in their area of we can per tease. i'm going to open with more general, philosophical, political discussion. a lot of people believe that politics are a struggle for power and certainly if you look at history that is what politics is. it is the continuation of war by other means. it is a quest for power for your race, tribe, religion, region, whatever, your industry these days. politics is a lot about power. but we always hope that some people in the discussion of politics an
a balanced approach that would force corporations and the wealthy to give up some of their special tax break. and pay their fair share. >> these modest reforms in our social insurance programs have to go hand in hand with tax reform. so the wealthiest individuals and corporations can't take advantage of loopholes and deductions that aren't available to most americans. there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of the economy should be put in jeopardy just because folks in congress couldn't come together to eliminate tax loopholes. >> these special interests loopholes include subsidies for the oil and gas companies. who are raking in record profits. deductions for corporate jets and yachts. and absurd tax breaks for hedge fund managers and wall street heavy hitters. fairness. it's what this election was all about. i mean, do we really want to be a country that lets millionaires write off their corporate jets but tells a single mom she can't get help buying a formula for her baby? that's not t
's new regulations or his tax increases and therefore it is all the more difficult for them to expand their businesses and create jobs in america. to add to the uncertainty, the president's proposed sequestration is set to take effect this march. despite his promise, his promise to the american people that it would never actually happen, the president has yet to take any steps to undo this harmful measure. he has shown absolute indifference to the millions of americans whose livelihoods will be severely impacted by his sequestration. house republicans have twice passed legislation to replace the president's sequester with commonsense reforms that will reduce spending, preserve and strengthen our safety net for generations and preserve our national defense. this week the house will pass a budget but it will be a responsible budget that will balance. one that will aim to grow the economy, drive down unemployment, expand opportunity and prosperity for the private sector and ensure that america maintains its leading role in the world as a strong national defender. americans can do this. w
in it, we don't tax you think about it. it is as if because we know it was awful, we can somehow pretended was not part of american culture. >> and early 20th century -- eugenics, in early 20th century. >> "washington journal" continues. michael're back with burgess, a republican and vice chairman of the energy and commerce subcommittee. thanks for talking to our viewers. guest: thanks for having me. host: republicans are saying to avoid the automatic spending cuts, we need entitlement reform on the table. president obama said yesterday if we cannot agree to something long-term like entitlement reform, let's do something short-term. do you agree? guest: no. president obama should be talking about the next sequester, because this one is happening. it was postponed to march 1 on the first and january. this is a promise that we made, the congress and the president made to the american people in order to get our fiscal house in order if we could not come up with the cuts, the savings to do that, these cuts would be automatic. host: you are ok with them? guest: i don't like it. the re
. ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. music: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ it's so important to make meone happy.♪ ♪make just one someone happy ♪and you will be happy too. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur >> we're hoping your saturday is off to a great start. before you make your breakfast, listen to this. ingredients and food we just love are banned in other countries because of how dangerous they are for our bodies. >> yeah. so what are we going to do about this. ask the authors of rich food, poor food dr. jason and certified mirra. >> good morning. the first thing you talk about is counterfeit colors. because there is artificial color in just about everything. >> absolutely. five of them that a
. in the meantime president obama is asking republicans to delay spending cuts with more tax hikes. there are some liberal democrats who say republicans just want to gut the social programs. >> it's time we take off just the green eye shade and look at the people behind the cuts that have been made. $600 million cuts to community health centers. that's talking about taking food out of the mouths of babies. i would say mitch mcconnell is a bully. gregg: will republicans go for president obama's deal? martha: there are some tough new questions for the white house after a memo surfaced that lays out the case for targeting u.s. citizens overseas when they believe they are a threat to our country. the critics say it allows the president to be the judge, jury and executioner on americans. now there is a group of senators who say they want answers to this, and if they don't get them the president's nominee for cia and defense could be held up. >> we conduct those strikes because they are necessary to mitigate ongoing actual threats, prevent attacks and save american lives. these strikes are legal, ethica
real spenged cuts for more tax hikes. the president's sequester should be replaced with spending cuts and reforms that put us on a path to balance a budget over the next 10 years. the american people believe that the tax question has been settled. they know the president called for a balanced approach to the debt. combination of revenues and spending cuts, and they know he's gotten his revenue. the american people do not believe the president will use further tax revenues to lower the debt. and haven't seen this president attempt to spend his way into prosperity over the last four years, they know he'll spend it. the president doesn't believe we have a spending problem. he general winly believes the government -- genuinely believes the government spending causes economic growth. if that were true, the economy today would be thriving. it isn't thriving. the unemployment rate is still nearly 8% and rising. small businesses like the one i ran are struggling. middle class families, those lucky enough to have a job, are living paycheck to paycheck. and president obama just insisted on rais
asks for, if we give him every tax increase he asks for, if we do absolutely everything that the budget he's required by law to submit requests, we will begin to pay down the first penny of debt never. in fact, if we do absolutely everything that the budget he's required by law to submit to us asks, the debt will continue to grow forever. i agree with so much my friends on other side are saying about the sequester, about the fiscal cliff. that's why we acted in may on this body, that's why we passed another sequester replacement in august, that's why we passed another one in december. i agree. but can't we also agree that if you're going to be commander in chief of america, if you're going to be the president of the united states, if you're going to uphold and defend the constitution, and we have our former joint chiefs of staff chairmen telling us that our greatest national security threat is our growing debt, shouldn't it be fair to ask the president to tell us when, if ever, he plans to begin paying back the first penny? mr. speaker, it's not a stupid piece of legislation that we're
? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> it hasn't sunk in yet. crazy. unbelievable. tough to put into words because it just really hasn't sunk in yet. i don't even think it's sunk in that we're here, let alone won the thing, so pretty cool. >> the way that game played out when it was 28-6 and the lights went out and whatever happened, i just knew with jim harbaugh being on the other sideline and all those years that we've been together, that that game was going to be a dogfight right to the end. that those guys were coming back. >> i just try to let my teammates at this moment know what we feel like. and last night when i had the conversation with them, you know, that just came directly from my heart to tell them what this feeling would feel like and what god has showed me and for us
in their paychecks because of this payroll tax. >> that is a real concern, right? so americans are continuing to feel the pain of the economic recovery being very slow. the bottom line is the bureau of economic analysis said the shrinking economy is a cause by a reduction in government spending. so the president is drying to say look we have to get stimulus into the economy. we need to get everyone back to work. that is caused by more spending not less spending. >> the democrats have proposed you cannot spend your way into prosperity. nor you can't tax people into prosperity. what you need to do is let the free markets take control. and basically in washington, d.c., we have bigger government. the president appointed 32 czars. what are those czars doing? >> czars is just a shortening of their actual title which is normally long in the federal government. i think that bureau of economic analysis saying that the cause of the shrink damage is due to the reduction in spending that's something we need to look at. >> we have reduced spending. >> talking about they are happy to hear the president talking ab
. we take no tax dollars. we don't have the ability to reduce costs in a way a private business would. and we are at the end of our borrowing authority. to give some perspective of our liquid situation, a typical large organization would either have cash on hand or quick borrowing ability. in october, the postal service had less than four days of cash on hand. that's a very scary situation and no situation that a business should be in. and this is why we have taken aggressive steps to reduce our costs and why we have been so vocal about seeking postal reform legislation. we faced a major hurdle to return to profitability and long-term stability. we need to generate $20 billion in cost reductions and revenue increases to close the budget gap and be able to repay our debt, both close the gap and repay the debt. and this is why the board of governors has directed us to take every necessary step to reduce costs and conserve cash necessary to continue our operations. it's what we have been doing consistently over the last couple of years. and we will be accelerating those efforts moving fo
for business.com. and see why our low taxes, sensible regulations, and fair legal system are just the thing to get your business moving. >> bill: that ad is running in most large california cities and of course is very controversial. joining us now from fort worth, texas. brook rollins. promotes free enterprise in that state from. san francisco, chief legal officer at virtual fan network and digital media company. joe, we begin with you. this is -- they are trying to poach business from your state, take them out and they have the stats to back it up, joe. >> well, i don't know about that i mean, california created more jobs last year than texas, oregon, and west virginia combined. but, i do want to thank the governor for spending his $24,000 here in california. my personal opinion it probably would have been better spent with the boys to men campaign. the reality is california is never going to compete with texas on oil production and natural gas production. the same way texas is not going to be able to compete with california, northern california with entrepreneurialism and culture innovat
into foreclosed houses and take possession of them if they hang on for seven years and pay the taxes. right now, because of it, officials are trying to get that law off the books. >> we don't need people who move in houses, who are con people. it's just a cop game. no one needs this in their neighborhood. we don't need it in the state of florida. >> so while loki boy is gone, he's left a string of copycats in the wake, and 11 in the past two weeks have filed these adverse possession rules to try to get in on some major properties. one of the houses bigger than the one behind me, a $4 million ocean front mansion now occupied by squatters who say they have a legal right to be there. melissa? melissa: steve, wow, quite a story m thanks so much. now turning to today's market moment. the blizzard slamming the northeast led to a quiet day on the wall street. dow briefly crossed the 14,000 mark, all three majors posted modest gains. the dow, however, snapped a five-week winning streak. meanwhile, nasdaq and s&p 500 had sixth straight weekly gains. next on "money," the roof is blown off in a legal arms
you think about the proposed tax increases the president made yesterday? caller: i think, my issue with that -- we have already had our tax increase in the first place. i don't necessarily agree with them. i realize that you need a little more revenue. i will agree with that to an extent, because it is both sides. if he is trying come to a balanced proposal at this point in time and propose equal cuts versus revenue, that's not fair, because we have already increased our taxes in the first place. the original deal was supposed to solve the fiscal cliff. host: april is on our facebook page. randy is an independent in butler, oklahoma. good morning. caller: i think they ought to let it go through. military budgets have doubled in the last 12 years and the research and development part of that is over $60 billion. that is not buying tanks or anything. we have spent $200 billion on the f-22 program, the fight for that no one wants. plenty of things to cut. go ahead and raise my taxes. i realize we have to bring in more money. i'm a grown-up. i will just take home less money, but we hav
years running. visit texas. wide open for business.com and see why our low taxes, sensible regulations and fair legal system are just the thing to get your business moving to texas. >>gretchen: that's smart. that's really, really smart marketing. first of all, a lot of companies have moved to texas. no state income tax, among other things. although the governor of california, jerry brown, tried to blow it off. not that big of a deal. watch this. >> $26,000 and the smallest entry into the media market of california. should i liken it to when you sand in the ocean? no. it's a big nothing. >>steve: when he was walking off apparently, he said this -- quote -- "it's not a serious story, guys. it's not a burp. it's barely a -- and then he used a word we don't use in our house." >>gretchen: come on. that's on my kids' star sheet every day. if you don't fart, you get a star. >>brian: parents have a responsibility on making the diet a -- >>gretchen: no. >>brian: if i was governor brown, i would use that as leverage to get taxes down, to pressure lawmakers to say look what texas is doing. busine
of the things that mitt romney talked about. he said there's some low-hanging fruit. there are a lot of tax loopholes that should be closed. i agree with him. we haven't done that. >> like which ones? >> well, oil subsidies. we have issues dealing with shipping jobs overseas. why don't we do some -- fill some of these -- >> i think if my numbers are correct, you do the oil and gas subsidy, i think that might save you something like 25 billion over ten years. >> no, it's more than that, george. but let's assume because the debt ceiling doesn't kick in till august, i believe that's what we'll have, but let's add these together. let's say you're right, 30 billion. but let's -- jobs overseas, we can dial that however we want because it's all -- a huge loss of revenue, corporate jets, tehre are all kind of things that are low-hanging fruit. >> you've heard the republicans across the board here. they're saying they're done with revenues for 2013. >> george, the american people are on our side. the american people don't believe in these austere things. we believe that the rich should contribute. w
to a long-term unified approach to our debt and deficit. the tenants of that of course deal with the tax expenditures that we deal with that and the health care costs that are going up. the chair: the gentleman's time has expired. mr. schrader: with that i reserve the balance of my time. the chair: the gentleman from georgia is recognized. mr. price: i claim time in opposition. the chair: the gentleman is recognized. mr. price: thanks, madam chair. i want to commend my colleague from oregon and colleagues that came together to submit this amendment as i believe it truly to be well-intentioned but i think it misses the mark. i think for two reasons specifically that it ought not be adopted by this body. first, it unnecessarily restricts the ability of the president to determine how he would balance the budget. remember, the underlying bill doesn't tie the president's hands in any way. it simply says to the president, when you submit your budget to congress, just let us know when it's going to balance. it's not going to balance within the period of time that's defined by the budget window,
change, immigration, gun control and taxes. mr. obama joked on monday about how tricky it can be to get things done. >> if there's one thing that i've learned over the last four years it's that you can't count on anything in washington until it's done. >> reporter: republicans believe that senate majority leader harry reid has been effective in shielding his members from some tough votes on items such as the budget but we've been assured there will be a budget this year so that unity and enthusiasm may be tested early. jenna? jenna: if you had a nickel forever time --, no. we would all be really rich. that there would be unity on capitol hill. we've heard some from the senate democrats about some of the issues they're worried about ahead. what have you heard within the halls of capitol hill? >> reporter: jenna, gun control is a prime example in places like new york, new jersey, california. gun control is popular. but harry reid also has democratic members from places like west virgina, arkansas, louisiana, and alaska where gun control can be dirty words. here is senator reid speaking re
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